- Volume 18 Issue 1
This study analyzes consumers' preference trend, positive and negative factors in regards to luxury brands by researching changes in the consumer awareness of luxury brands, preference trends and psychological awareness based on big data to suggest a creative business strategy for corporations that can help Korean brands enter global luxury brand markets. The study results are as follows. Preferred items (consumer) psychology, positive awareness and negative awareness were derived based on the last five years of social big data on Korean consumers' preferred brands. First, the Korean consumers' preferred brands for the recent five years indicated that Dolce & Gabbana (2013), ESCADA (2012), Gucci (2011, 2009) and Chanel (2010) were most preferred and Prada, Louis Vuitton, Hermes, Burberry, Fendi, Givenchy and Dior were also shown to be preferred brands. Second, bags (such as shoulder bags) were shown to be the most preferred items for luxury brand items that consumers wished to own. Third, it was analyzed that keywords for consumer psychology in regards to luxury brands included: diverse, new, outstanding, overwhelming, luxurious, glamorous, worldwide, famous, success and good. Fourth, consumers' positive awareness regarding luxury brands included: diverse, luxury, famous, outstanding, perfect, bright and luxurious. Fifth, negative awareness included: price factors of expensive, high price and excessive as well as factors to be improved upon such as old, bland, flashy, crude, unfriendly and fake.
social big data;luxury brand;consumers' sentiment;consumers' preferred brands
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